Best Algorithmic Trading Software in 2024

We go over the Best Algo Trading Platforms in this guide. Algorithmic Trading Platforms are Electronic Trading System that allow Auto Trading.

We explain the basics of Algorithmic Trading and list the top-rated Algorithmic Trading Platforms to Automate your Portfolio.

List of the Top Algorithmic Trading Platforms 2024

Here is the Public Finance International list of the best Algorithmic Trading Software based on our research:

  1. eToro Copy Trading – Best Algorithmic Trading Platform overall
  2. Interactive Brokers – Best API

These are the platforms we don't recommend:

  1. Bitcoin Era
  2. Oil Profit
  3. Bitcoin Prime
  4. Teslacoin
  5. NFT Profit
  6. Bitcode AI
  7. The Uncharted

Overview of Algorithmic Trading Software

To better understand which Algorithmic Trading Platform will be right for your needs, you can see how each measures up against the others in the table below. Here, we have awarded each Algo Trading Platform a rating based on its overall experience and usefulness for a trader looking for specific services.

RankAlgo Trading PlatformInfoPFI ScoreAccepts ClientsMinimumBest For
1eToroBest Algorithmic Platform Overall4.9Globally$50Copy Trading
2Interactive BrokersRobust API4.9Globally$0Best For Tech-Savvy Traders
3Bitcoin EraBest algorithmic trading platform for beginnersNot RecommendedGlobally$0Best platform for beginners in general
4Oil ProfitBest Algo Platform for commoditiesNot RecommendedGlobally$250Commodities
5Bitcoin PrimeA good platform for crypto and CFDsNot RecommendedGlobally$250Crypto and CFD’s
6TeslaCoinAlgorithmic Trading Platform for CryptocurrenciesNot RecommendedGlobally except UK$0Cryptocurrencies
7NFT ProfitBest platform for NFT derivativesNot RecommendedSelected Countries$250NFT derivatives
8Bitcode AIBest for beginners specializing in cryptoNot RecommendedGlobally$250Best for beginners in crypto
9UnchartedAlgo High Frequency TradingNot RecommendedGlobally$60NFT’s and high frequency trading

What is algorithmic trading?

Algorithmic trading is a process of executing buy and sell orders using pre-programmed instructions through automated systems. Algorithmic trading uses instructions programmed based on time, volume, and price. Computer algorithms send orders to the markets in full or in fractions over a selected period.

The Algorithmic Trading Software will buy, sell, or hold automatically. Algorithmic Trading Platforms will automate orders using pre-programmed instructions based on different variables.

These Algo Trading Systems use these pre-programmed rules to open and close positions, choose trading instruments, manage risk, and adjust position size.

Top Algorithmic Trading Platforms in Detail

We'll discuss each Algorithmic Platform in more detail to help you decide which is the best pick.

Our Top Pick
etoro logo

PFI Rating: 4.9/5

1. eToro

Launched in 2007 eToro currently serves over 25 million customers across the globe. What makes eToro such as great platform is the broad range of assets you get access to.

Whether you want to trade cryptocurrency, stocks, funds, commodities, indices, or forex, you can do it through eToro. If you are only interested in cryptocurrencies, eToro gives you access to 60+ digital currencies. This is one of the best multi-asset algorithmic trading solutions.

{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.

eToro is one of our top picks because it is a vetted and highly reliable Algorithmic Trading Platform. It is regulated by multiple financial authorities, including CySEC, SEC, FCA, and ASIC.

eToro is available worldwide except in some restricted regions.

Another feature that makes eToro an extremely flexible and capable service is its broad market access. The eToro Mobile App is easy to use but lacks some advanced tools for experienced traders.

eToro is a safe and reliable algorithmic trading platform. They use advanced cybersecurity protocols and certified systems.

Whether you are an advanced user or a new trader, eToro is an excellent platform to get started with. The minimum deposit for copy trading is $200, and the minimum trade size of $1 for each copied position. There are no additional fees for copy trading.

eToro Algo Trading Homepage
Trading PlatformeToro
RegulationFCA, CySEC, ASIC, FSAS
Offering Of InvestmentsStocks, ETFs, Forex, Crypto, Indices, Commodities
Minimum Deposit$50 – $100
Demo AccountYes
Withdrawal Fee$5
Inactivity Fee$10/month
Deposit MethodsSkrill, Neteller, Debit Card, Rapid Transfer, iDEAL, Klarna / Sofort Banking, Bank Transfer, Online Banking – Trustly
Wide Market AccessNo Advanced Trading Tools
Copy Trading
Well Regulated
Great Choice
Interactive Brokers Logo

PFI Rating: 4.9/5

2. Interactive Brokers

Interactive Brokers is a multi-asset online trading platform founded in 1978. Top-tier authorities regulate IBKR, making it a safe and reliable choice.

Interactive Brokers offers an API for customized algorithmic trading. What makes them stand out is the unparalleled flexibility and access to high-speed order routing through FIX CTCI.

Their API is best for tech-savvy traders programming algorithms in Python or C++. IB operates in a fast binary format compared to slower JSON formats. However, Interactive Brokers only updates the market data four times per second, making it hard to obtain a full snapshot of trades/quotes. We found it best to use IQFeed for market data and IBKR for executing trades.

For algo trading, it is best to use the PRO account, as the commissions are lower with lower slippage.

On the PRO account Interactive Brokers doesn't have payment for order flow like many other brokers, which is excellent to avoid slippage.

We recommend it for advanced traders as they offer a robust trading infrastructure.

Interactive Brokers Home
Trading PlatformInteractive Brokers
Offering Of InvestmentsStocks, ETFs, Options, Futures, Currencies, Cryptocurrencies, US Spot Gold, Bonds, Mutual Funds, Hedge Funds
Minimum Deposit$0
Demo AccountYes
Withdrawal Fee1 Free Withdrawal per Month
Inactivity FeeNo
Deposit MethodsBank Wire, Credit Cards, ACH, Mail a check, Rollover, Online Bill Pay, Trustee-to-Trustee, SEP Contribution
Regulated by top-tier authoritiesCould be overwhelming for beginners
Wide Market Access
Education and Research


The best algorithmic trading platform, in our opinion, is eToro. eToro offers a wide range of markets, combined with copy trading, which makes it a great choice. They are regulated by top-tier regulators worldwide. Our second choice is Naga, which is also regulated. To try other platforms on this list, research them in detail and only invest minimum amounts.

About the author

Ziga Breznik is the owner and head of research at – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.